Concurrent Investment Advisors LLC grew its stake in shares of Enovix Co. (NASDAQ:ENVX - Free Report) by 79.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 63,481 shares of the company's stock after purchasing an additional 28,023 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Enovix were worth $690,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Prospera Private Wealth LLC acquired a new position in Enovix during the 3rd quarter valued at about $27,000. Fifth Third Bancorp boosted its position in shares of Enovix by 66.7% during the fourth quarter. Fifth Third Bancorp now owns 2,500 shares of the company's stock worth $27,000 after buying an additional 1,000 shares during the period. R Squared Ltd bought a new position in Enovix in the 4th quarter worth approximately $64,000. Voisard Asset Management Group Inc. increased its position in Enovix by 40.0% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 7,000 shares of the company's stock valued at $65,000 after acquiring an additional 2,000 shares during the period. Finally, Quest Partners LLC raised its position in shares of Enovix by 318.5% during the 3rd quarter. Quest Partners LLC now owns 8,270 shares of the company's stock worth $77,000 after buying an additional 6,294 shares in the last quarter. 50.92% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
ENVX has been the topic of several research reports. Craig Hallum dropped their price target on shares of Enovix from $20.00 to $18.00 and set a "buy" rating on the stock in a research report on Thursday, February 20th. Janney Montgomery Scott lowered shares of Enovix from a "buy" rating to a "neutral" rating and set a $10.00 price target on the stock. in a report on Thursday, October 31st. Benchmark reiterated a "buy" rating and set a $25.00 price objective on shares of Enovix in a research report on Wednesday, October 30th. Finally, Cantor Fitzgerald restated an "overweight" rating and issued a $30.00 target price on shares of Enovix in a report on Thursday, February 20th. Two investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $20.30.
Check Out Our Latest Stock Analysis on Enovix
Enovix Stock Down 6.1 %
Enovix stock traded down $0.59 during mid-day trading on Thursday, hitting $9.04. 5,249,850 shares of the company's stock were exchanged, compared to its average volume of 7,053,743. Enovix Co. has a 1-year low of $5.70 and a 1-year high of $18.68. The stock has a 50 day moving average of $11.22 and a two-hundred day moving average of $10.26. The stock has a market cap of $1.61 billion, a P/E ratio of -6.23 and a beta of 1.87. The company has a current ratio of 3.77, a quick ratio of 3.61 and a debt-to-equity ratio of 0.99.
Enovix (NASDAQ:ENVX - Get Free Report) last announced its earnings results on Wednesday, February 19th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.18) by $0.01. Enovix had a negative return on equity of 96.99% and a negative net margin of 963.17%. The firm had revenue of $9.72 million during the quarter, compared to analysts' expectations of $8.77 million. As a group, analysts anticipate that Enovix Co. will post -1.01 EPS for the current fiscal year.
Insider Transactions at Enovix
In other Enovix news, Director Betsy S. Atkins sold 75,000 shares of Enovix stock in a transaction that occurred on Tuesday, December 3rd. The stock was sold at an average price of $9.73, for a total value of $729,750.00. Following the transaction, the director now directly owns 99,497 shares of the company's stock, valued at $968,105.81. The trade was a 42.98 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 15.70% of the stock is currently owned by corporate insiders.
Enovix Company Profile
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Free Report)
Enovix Corporation designs, develops, and manufactures lithium-ion batteries. It serves wearables and IoT, smartphone, laptops and tablets, industrial and medical, and electric vehicles industries. The company was founded in 2007 and is headquartered in Fremont, California.
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